ISRO to establish SpaceTech Innovation Network

What’s in today’s article?

• Why in News?
• News Summary

Why in News?

• The Indian Space Research Organization (ISRO) has signed an MoU with Social Alpha to launch SpaceTech Innovation Network (SpIN).
  • Social Alpha is a multistage innovation, curation and venture development platform for science and technology start-ups.
  • It addresses the most critical social, economic, and environmental challenges through the power of entrepreneurship and market-creating innovations.
  • Since its inception in 2016, Social Alpha has supported more 200 start-ups including 60+ seed investments.

News Summary

What is SpaceTech Innovation Network (SpIN)?

• SpIN is India’s first dedicated platform for innovation, curation, and venture development for the burgeoning space entrepreneurial ecosystem.
• SpIN will primarily focus on facilitating space tech entrepreneurs in three distinct innovation categories:
  • Geospatial Technologies and Downstream Applications;
  • Enabling Technologies for Space & Mobility; and
  • Aerospace Materials, Sensors, and Avionics.

Innovation Challenge launched by SpIN

• In line with the partnership announcement, SpIN has launched its first innovation challenge.
• Early-stage start-ups for developing solutions in areas of maritime and land transportation, urbanization, mapping and surveying, disaster management, food security, sustainable agriculture, environmental monitoring, and natural resources management, among others are encouraged to apply.
• The selected start-ups and innovators will be able to access both Social Alpha’s and ISRO’s infrastructure and resources.
• They will be provided active hand-holding in critical areas, including access to product design, testing and validation infrastructure, intellectual property management etc., among other technical and business inputs.

Significance of the collaboration

• Creation of an open innovation and scale-up platform
  • According to the Economic Survey Report 21-22, there are now over 100 active space start-ups in India – the number of start-ups in this sector has more than doubled in the last year alone.
  • Through this partnership, ISRO will support the creation of an open innovation and scale-up platform for all space ecosystem stakeholders and promote active collaboration to make early-stage space start-ups successful.
• Participation of SMEs in the space industry
  • This collaboration is a one-of-a-kind public-private collaboration for start-ups and SMEs in the space industry.
  • Hence, it will be beneficial for SMEs involved in space sector.
• Stimulus to India’s space reform policies
  • This partnership is a significant step forward in providing further stimulus to India’s recent space reform policies.
  • It will work towards identifying and unleashing the market potential of the most promising space tech innovators and entrepreneurs in India.
• Towards maximizing socio-economic benefits for society
  • Space applications cut across various domains from earth to the sky.
  • Innovative technologies are expected to bring a paradigm shift in utilising space applications to maximise the economic, social, and environmental benefits for the larger society.
  • In this context, the SpIN platform would create a level playing field for various stakeholders to collaborate and contribute to the space ecosystem in the country.
• Towards achieving SDGs
  • Space science, technology, and data have the potential to contribute to various Sustainable Development Goals (SDGs).
  • This industry has high-impact applications in ensuring food security, reducing disaster risks, preventing humanitarian crises, and monitoring natural resources.
  • Hence, this partnership will significantly strengthen India’s ability to create impact on SDGs.

Q1) What is the old name of ISRO?

ISRO replaced its predecessor, INCOSPAR (Indian National Committee for Space Research), established in 1962 by India’s first Prime Minister Pt. Jawaharlal Nehru and scientist Vikram Sarabhai, considered amongst the founding fathers of Indian space program.

Q2) Which country has most satellites?

Of the 4,852 active artificial satellites orbiting the Earth as of January 1, 2022, 2,944 belong to the United States. This is by far the largest number of any single country, with their nearest competitor, China, accounting for only 499.

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